Basement, 92-94 Upper St Giles Street, Norwich, Norfolk, NR2 1LT
- Unconditional Online Sale
Pymm & Co Auctions are delighted to offer this very rare opportunity to purchase a unique historic space with a host of possibilities subject to the relevant consents.
Description
An extensive lower ground floor, cellar area formerly used by Eaton Rifle Club with approximately 2,455 sq ft (228.1 sq m) of space. The entrance is accessed on ground floor level (with WC facilities) with steps down to the main area comprising of three principal areas, all of varying height (main section 2.7m) and with store rooms. The main cellar area has an uninterrupted length of approximately 27 metres. Long leasehold. Varying uses all SUBJECT TO PLANNING.
The property is located on the historic and popular artisan area of Upper St. Giles Street, Norwich in the heart of the City and accessed via a pathway to the side of a block of flats on the South side of the street. Upper St. Giles is a quiet but vibrant location with art galleries, coffee shops and restaurants making it a desirable location.
We would advise any interested parties to speak to the local planning authority in regards to the type of use that would be permitted. Due to limited access and the nature of the surrounding areas, uses involving lots of people (i.e nightclub) are unlikely to be permitted, however, we would suggest speaking to them direct.
The property is being offered with a long leasehold as follows:
Vacant possession
Term: 125 years from 1st April 2006
Ground Rent: £300 per annum
Please Note:
Service charge and ground rent including building insurance has been paid up until June 2025
Additional Fees:
Buyer's Premium - £4,200 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Lease Start Date
01/04/2006
Lease Duration
125 years (105 years unexpired)
Annual Ground Rent
£300
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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